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Trkiyes First Direct NYSE-Listed Company, Marti Technologies, Benefits As Ride Hailing Takes Off

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–News Direct–

By Meg Flippin, Benzinga

Ride-hailing is taking off in Trkiye, particularly in cities from Istanbul to Izmir to Antalya, as the middle class grows, the population increases and people trade private vehicles and public transportation for on-demand rides. Marti Technologies Inc. (NYSEAMERICAN: MRT), the leading mobility app company hailing from Trkiye, is capitalizing on that growing demand.

The company, which launched its app in 2019, matches riders with car and motorcycle drivers and operates a large fleet of rental e-mopeds, e-bikes and e-scooters. Marti Technologies reports that it became the number one mobility app in Turkiye in 2020, a year after its application launch, and has retained that position every year since. The company also reports that it has over 4.5 million unique riders on its application, and its ride-hailing service boasts 452,000 unique riders and 100,000 registered drivers. All of Martis offerings are serviced by proprietary software systems and IoT infrastructure.

Trailblazing With Its U.S. Listing

Another important milestone, one that's rare for a Turkish company, is a direct U.S. listing. But thats exactly what Marti accomplished this past summer, debuting on the NYSE. Marti was able to pull off the U.S. listing by merging with Galata Acquisition Corp. (NYSE: GLTA). The deal was first announced in August of 2022, and Marti began trading about a year later.

Marti reports that its NYSE debut was the first direct listing of a company in Trkiye, and it is expected to serve as a model for other companies in Trkiye and the region that want to tap the public markets in the U.S. The fact that Marti chose this pioneering financing model underscores the growth potential for ride-hailing in the country, particularly in the Turkish metropolises. Martis public listing was recognized as the International Equity Capital Markets Deal of the Year by Bonds, Loans, and ESG Capital Markets CEE (Central and Eastern Europe), CIS (Commonwealth of Independent States) & Trkiye Awards 2023. McKinsey & Company, the consulting firm, estimates the taxi market size in Trkiye was between $9 billion to $12 billion as of 2021. By 2030, McKinsey & Co. forecasts that the ride-hailing market could grow to between $15 billion and $20 billion.

Checking Off All The Boxes

When the deal was first announced, Marti said the U.S. listing would help it go after the fast-growing Trkiye market, maintain its leadership position, expand its scale and reach to retain customers and do all of it in an environmentally friendly way. In its first four years, Marti has achieved significant traction for its mobility products, strong growth and best-in-class unit profitability, Alper Oktem, Founder and CEO of Marti, said at the time. We are privileged to have the support of top-tier investors and access to the U.S. capital markets following the closing of this proposed transaction, which will leave Marti well-capitalized to seek to become Trkiyes first mobility super app by expanding into other attractive adjacencies, leveraging our growing and loyal customer base.

Since that announcement, Marti seems to have checked all those boxes and then some, showcasing growth that seems similar to ride-hailing leaders in the U.S. such as Uber Technologies Inc. (NYSE: UBER). Month-over-month in December Marti saw ride-hailing riders grow 19% and registered drivers grow 11%. Both areas grew faster than the company expected, underscoring how big of an unmet need it serves. Given the growth in riders and drivers, the company expects to have more than 700,000 riders and over 120,000 registered drivers by March 31, 2024.

If Uber is any evidence, those double-digit growth rates may continue as Marti establishes itself as a leader in the region. For Ubers third quarter, which it announced in November, the ride-hailing leader posted a 31% year-over-year increase in mobility gross bookings and thats in saturated markets. More importantly, it was able to achieve profitability in its ride-hailing business, the largest part of its operation.

While Marti is currently in a legal battle with the taxi association of Istanbul, the notoriously poor quality of service of taxis in the city clearly suggests that an alternative solution is necessary. The UEFA Champions League final, soccer's most prestigious club event globally, took place in Istanbul in 2023, and the competition's governing body UEFA advised all fans and tourists visiting the city to not use taxis for transportation. The problems endemic to the taxi sector in Turkey range from not picking up locals to charging exorbitant unmetered fees to tourists to verbal and physical violence.

Future Plans And Growth Potential

Marti may be focused on ride-hailing for now, but the company plans to expand into other areas of mobility and services, which will increase sales and improve its bottom line. While it's sporting a market capitalization of around $40 million as of mid-January 2024, Marti recently launched a share buyback program, and there may be a lot of potential. One only has to look at the valuations of some of Trkiyes successful online to offline services businesses including e-commerce giant Trendyol, grocery delivery company Getir and food delivery app Yemeksepeti, for evidence. Trendyol, which is majority-owned by Alibaba Group Holding Ltd. (NYSE: BABA) Chinas leading e-commerce company, which is one of the countrys first decacorns with a valuation of more than $16 billion while Getir sports a valuation of around $2.5 billion and Yemeksepeti was acquired by Delivery Hero in a $589 million deal. Trkiye is reportedly unique in that local players, not international ones, tend to lead in the market and grow organically through investments and via M&A.

Over the years Alibaba has invested $1.4 billion into Trkiye and plans to invest as much as $2 billion more. Given Trkiyes strategic location between Europe and Asia, Alibaba sees Trkiye as the perfect pit stop to fuel the e-commerce giants expansion in Europe. As a result, it has been investing to build up logistics and data centers in key locations in the country. Its not just Alibaba that is eyeing Trkiye for expansion. Shein, the fast-fashion brand, recently started manufacturing in Trkiye, and in the fall, Amazon.com Inc. (NASDAQ: AMZN) opened its first logistics center. All of that could fuel the rise of the middle class in Trkiye and the need for rides in cities, which means potentially more business for Marti.

The ride-hailing market seems to be taking off in Trkiye, and Marti seems well-positioned to capitalize. It's already a leading app and has the name recognition of a U.S. listing and the backing of investors in U.S. markets. It doesnt yet boast the market valuation of its larger rivals in the U.S. and cant claim decacorn status in Trkiye, but that also indicates room to grow. Marti has the pedal to the metal and plans to stay in the lane for the years to come.

Featured photo by Anna Berdnik on Unsplash.

Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders.

This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice.

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View source version on newsdirect.com: https://newsdirect.com/news/turkiyes-first-direct-nyse-listed-company-marti-technologies-benefits-as-ride-hailing-takes-off-601995804

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KOSEC Expands Nationally Across Australia, Acquiring Top Advisers and Introducing Revolutionary Financial Technology Products

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Sydney, NSW, Australia, 4th Mar 2024 – KOSEC- Kodari Securities, a leading innovator in the financial industry, is proud to announce its expansion nationally across Australia. This significant milestone comes after successfully setting up offices in the United States. Leveraging its success and extensive product and service offering, unmatched by any other institution, KOSEC is poised to redefine the investment landscape in Australia.

At the forefront of this expansion is the launch of the latest financial technology products, including the groundbreaking PHANTOM X. This cutting-edge software provides KOSEC clients with a real competitive edge by seamlessly integrating a wealth of comprehensive resources, granting them a distinct and powerful advantage.

“KOSEC is dedicated to empowering investors with the tools and resources they need to succeed in today’s dynamic market,” said Michael Kodari, CEO of KOSEC. “With the launch of PHANTOM X and our other innovative products, we are revolutionizing the way investors approach their portfolios.”

PHANTOM X offers a realm of limitless opportunities, providing access to decision-driving data, macroeconomic insights, currency and commodities forecasts, laser-focused sector analysis, insider trading intel, company-specific updates, fundamental analysis, institutional valuations, analyst ratings, thematic stocks, dynamic charting tools, and the force of Artificial Intelligence. Crafted with the expertise of industry professionals, this remarkable software was initially designed for internal use but is now available to KOSEC clients, offering unique access to a universe of knowledge.

In addition to PHANTOM X, KOSEC introduces a suite of other cutting-edge financial technology products:

LOTUS BLUE: A unique filtering system intricately designed to effortlessly direct investors towards cutting-edge investment opportunities.

BUFFETT 2.0: An in-house valuation model inspired by Warren Buffet’s investment philosophy, providing investors with a more robust and precise intrinsic company valuation.

LIVERMORE AI: An Artificial Intelligence/Machine Learning algorithm engineered to swiftly discern time-sensitive opportunities and identify potential risks associated with clients’ holdings.

PORTFOLIO SCREENER: A comprehensive portfolio review tool that conducts in-depth analysis of each company within clients’ portfolios, offering unparalleled clarity and insight.

“We are thrilled to bring these innovative products to our clients and expand our reach across Australia,” said Michael Kodari. “With KOSEC’s commitment to excellence and dedication to innovation, we are confident that we will continue to lead the way in the financial industry.”

What separates KOSEC on top of innovative technology and visionary learnership is the transparent investment strategy backed by evidence, as it transcend the realm of basic macroeconomic analysis and company fundamentals. unlike the majority of institutions and retail investors who often rely on opinions alone, KOSEC delves into the depths of thorough due diligence, going beyond the surface.  

KOSEC’s daily routine begins with a meticulous examination of macro and microeconomic factors, where analysts and traders convene to dissect data and news, focusing on indicators like GDP, inflation, and unemployment rates. This thorough analysis extends to influential news outlets and analyst recommendations, providing insights into potential impacts on the economy, sectors, and individual companies. Complementing this macro view, KOSEC’s fundamental analysis delves deep into the financial health and operational dynamics of top-performing companies, considering metrics like revenues, earnings, and debt sustainability to manage risk effectively.

In addition to its fundamental approach, KOSEC utilizes institutional valuations and its proprietary “Buffett 2.0” model to refine investment decisions with precision, selecting companies with valuations positioned below their current stock prices. Moreover, KOSEC leverages technical analysis and advanced AI/ML software to navigate market conditions and promptly respond to potential risks within clients’ portfolios. This strategic approach ensures that KOSEC remains at the forefront of investment management, empowering clients with informed decisions and optimal risk-to-reward opportunities in today’s dynamic market landscape.  

About Michael Kodari:

Michael Kodari stands as an internationally recognized investor, philanthropist, and leading expert in financial markets. He shines as a global luminary in investment, consistently delivering exceptional performance that distinguishes him on the international stage. Praised by CNBC Asia as ‘the brightest 21st-century entrepreneur in wealth management,’ Kodari’s journey has been marked by collaboration with industry leaders and consultations with esteemed financial institutions.

Beginning his career with a solid foundation in funds management and stockbroking, Kodari’s ascent has been marked by notable achievements. He became the youngest expert panelist on the Sky Business Channel at just 25 years old, captivating audiences and achieving record-high ratings. Over three transformative years, Kodari solidified his reputation as an unwavering force in the financial sector.

Kodari’s influence extends beyond screens and print media, with engagements across diverse platforms and spearheading enlightening global conferences. His participation in significant events, such as ‘Inside China’s Future,’ underscore his prowess in fund management. Notably, he stood alongside the eminent George Soros as the sole financiers invited to offer insights on Chinese government asset allocation offshore, a testament to his extraordinary expertise.

In 2019, Kodari’s reputation was further amplified as an esteemed expert panelist at Parliament House, contributing significantly to discussions on the dynamic landscape of innovation and entrepreneurship between Australia and China. His role as a trusted authority in investment and collaboration on an international scale solidified through his profound insights and expertise.

About KOSEC – Kodari Securities:

KOSEC is the destination for investors dedicated to discovering optimal avenues to cultivate their wealth while preserving their capital. Empowering clients with crucial insights and a wide array of resources enhances their ability to make informed and strategic investment decisions.

KOSEC works with individuals, family offices, trusts, SMSFs, corporations, and charities, providing immediate access to world-class resources and insights. With a commitment to excellence, KOSEC fosters genuine connections with both clients and exceptional employees, driven by a singular mission: to empower investors with unparalleled knowledge, cutting-edge tools, and abundant resources that unlock groundbreaking investment opportunities.

 

Media Contact

Organization: KOSEC – Kodari Securities Pty Ltd

Contact Person: Perry Ranclaud

Website: https://www.kosec.com.au

Email: [email protected]

Contact Number: +61299553151

City: Sydney

State: NSW

Country: Australia

Release Id: 04032410194

The post KOSEC Expands Nationally Across Australia, Acquiring Top Advisers and Introducing Revolutionary Financial Technology Products appeared first on King NewsWire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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HipsterCouture Takes America by Storm with Trendsetting Collection

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Germany, 4th Mar 2024 – HipsterCouture™, the renowned German fashion brand, is making waves across the United States with its unparalleled collection of hipster clothing, setting the stage for a new era in fashion. As the go-to destination for those who crave unique and stylish designs, HipsterCouture™ has quickly become a cultural phenomenon, redefining the fashion landscape.

HipsterCouture™ offers a curated selection of hipster apparel, including trendy t-shirts and hoodies that showcase cutting-edge fashion designs. Catering to fashion enthusiasts across America, the brand has gained a massive following for its distinctive style and commitment to quality.

“We’re thrilled to witness the overwhelming response from the American market. HipsterCouture™ is more than just a brand; it’s a lifestyle. Our unique collection speaks to those who dare to be different, embracing individuality and self-expression,” says Marcel Schneider, the visionary behind HipsterCouture™.

With an extensive range of hipster clothing, HipsterCouture™ has become synonymous with fashion-forward designs and quality craftsmanship. The collection includes an array of hipster hoodies and apparel that effortlessly blend comfort and style.

Key Features of HipsterCouture™:

  • Unique Designs: HipsterCouture™ boasts an exclusive lineup of fashion-forward designs that cater to diverse tastes and preferences.
  • Quality Materials: Each piece in the collection is crafted from high-quality materials, ensuring durability and comfort for the wearer.
  • Trendsetting Styles: Stay ahead of the fashion curve with HipsterCouture™, where every piece reflects the latest trends in hipster fashion.
  • Social Media Buzz: Connect with the brand on social media using #hipsterfashion and #hipsteroutfit to stay updated on the latest releases and fashion trends.

To explore the full collection and join the hipster fashion movement, visit hipstercouture.com.

About HipsterCouture™:

Founded in Germany, HipsterCouture™ has emerged as a global fashion sensation, offering a diverse collection of hipster clothing that embodies individuality and creativity. With a commitment to quality and style, the brand has garnered a massive following, solidifying its position as a leader in hipster fashion.

Media Contact

Organization: HipsterCouture™

Contact Person: Marcel Schneider

Website: https://www.hipstercouture.com/

Email: [email protected]

Country: Germany

Release Id: 04032410178

The post HipsterCouture Takes America by Storm with Trendsetting Collection appeared first on King NewsWire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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Uniting and Empowering Through Passion: Sport Pesa Tanzania Shares the Impact of Sports on Society

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Oysterbay, Dar es Salaam – Sport Pesa Tanzania casts a spotlight on the unifying and transformative power of sports. Through engaging initiatives and strategic partnerships, the company demonstrates how sports can serve as a powerful force for bringing people together, fostering community development, and empowering individuals.

The impact of sports goes beyond the thrill of competition, acting as a universal language that cuts through cultural, socioeconomic, and political barriers. It offers a platform for individuals to unite, share experiences, and cultivate a sense of community and identity. Sport Pesa Tanzania’s commitment to leveraging sports as a bridge for social cohesion is evident in the narratives and partnerships featured on its platforms, including the insightful stories shared on its sports blog.

Sport Pesa Tanzania significantly contributes to economic growth and community development through sports. From major events to grassroots competitions, sports generate considerable economic benefits, such as job creation, tourism boost, and infrastructure improvement. The company’s active involvement in various sports activities not only enhances the economic well-being of communities but also strengthens social bonds.

Furthermore, sports play a crucial role in promoting health and well-being. Regular participation in sports activities is essential for preventing chronic diseases, managing stress, and improving overall quality of life. Sport Pesa Tanzania encourages broad community engagement in sports, aiming to build a healthier and more vibrant society.

One of the most striking effects of sports is its ability to unite people behind a shared goal. Whether supporting a local team or national athletes, sports ignite collective enthusiasm and pride, overcoming individual differences. Sport Pesa Tanzania is committed to fostering this unity, using its platform to connect people and inspire future generations of athletes and enthusiasts.

Betting has emerged as a thrilling complement to the traditional spectator experience, offering fans not just a way to engage with the games they love but also the opportunity for financial reward. Sport Pesa Tanzania, a leader in this vibrant industry, provides a secure and responsible platform for sports enthusiasts to place bets on a wide array of sporting events. By integrating advanced technology with a deep understanding of sports dynamics, the company ensures a fair, transparent, and enjoyable betting experience.

As the role of sports in society continues to evolve, Sport Pesa Tanzania remains dedicated to finding new ways to harness the potential of sports for the greater good. Through partnerships, community initiatives, and a focus on health and unity, the company not only leads in the sports betting industry but also advocates for the positive impact of sports on society.

About Sport Pesa Tanzania:

Sport Pesa Tanzania is a leading sports betting platform with a wide range of betting options across various sports. Headquartered in Oysterbay, Dar es Salaam, the company promotes responsible betting and supports sports development and community projects across Tanzania. Committed to innovation, integrity, and community engagement, Sport Pesa Tanzania enhances the sports betting experience while highlighting the societal benefits of sports.

Media Contact

Name
Sport Pesa Tanzania
Contact name
Gibbons Katule
Contact phone
255677115588
Contact address
Peninsula House, 1st Floor, Toure Drive
City
Oysterbay
State
Dar es Salaam
Country
Tanzania
Url
https://sportpesa.co.tz/

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